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Iranian oil minister denies forex shortfall

Iran Materials 4 February 2012 16:46 (UTC +04:00)

Azerbaijan, Baku, Feb. 4 / Trend F.Milad/

Iranian Oil Minister Rostam Qasemi has rejected some rumors on the country's foreign currency shortfall, saying that Iran's annual exports amount to $120 billion against imports of around $50 billion.

He put the country's annual non-oil exports at nearly $45 billion and emphasized that the country is by no means facing foreign currency loss, Mehr news agency reported on Saturday.

Iran's non-oil exports value is projected to reach $55 billion in the next calendar year, starting March 21, deputy director of Trade Promotion Organization of Iran (TPOI) Kiyumars Fathollah Kermanshahi told Mehr news agency.

The TPOI director Hamid Safdel said that the value of non-oil exports is expected to hit $43 billion this year, and $50.5 billion in the year after, a $4.5 billion reduction compared to o his deputy's figure. China, the UAE, and Iraq are the main importers of Iranian goods.

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